Generic Sevco / Rangers meltdown thread

[Billy Whizz]

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So what is their total current debt accumulated over the 12 years they've been in existence? Need CWG here to give some detail...

£126m since 2012, source poster on twitter

[Ozyhibby]

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Apparently;

'The Rangers' losses by the season:


2012-13 - £14m
2013-14 - £8.1m
2014-15 - £7.5m
2015-16 - £3.3m
2016-17 - £6.7m
2017-18 - £14.3m
2018-19 - £11.3m
2019-20 - £15.9m
2020-21 - £23.5m
2021-22 - £0.9m
2022-23 - £4.14m
2023-24 - £17.17m'

So £126.81 million. Absolutely insane for a 12 year old club.

Does it say what their current debt is though on their balance sheet?


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[Ozyhibby]

I see they have changed from the ‘most’ successful to ‘one of’ in anticipation of Celtic pulling ahead of them this season.


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[Keith_M]

In June last year, Barcelona had combined 'liabilities' (i.e. debts) of €2.7bn.

Compared to that, The Rangers' debts are at diddy-club level.

[Bishop Hibee]

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£126m since 2012, source poster on twitter

That’s some hit their board have taken in the pocket trying to keep up with Celtc.

[HoboHarry]

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that’s some hit their board have taken in the pocket trying (and failing utterly) to keep up with celtc.

ftfy

[ancient hibee]

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Apparently;

'The Rangers' losses by the season:


2012-13 - £14m
2013-14 - £8.1m
2014-15 - £7.5m
2015-16 - £3.3m
2016-17 - £6.7m
2017-18 - £14.3m
2018-19 - £11.3m
2019-20 - £15.9m
2020-21 - £23.5m
2021-22 - £0.9m
2022-23 - £4.14m
2023-24 - £17.17m'

So £126.81 million. Absolutely insane for a 12 year old club.

szxx
Why does the Record report refer to the year ended June 2023 when it’s clearly 2024?

[Lendo]

Over on FollowFollow plenty of them are delighted at this great set of accounts. “Just need to sell one player like Butland for £17m and it’s all good”.

[McD]

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Annual results posted, from the DR;

"Rangers have announced an operating loss of £17.2million in the past financial year.

The Ibrox club released the annual report and accompanying financial statement for the year ended 30 June 2023 which is in stark contrast to last year’s. Twelve months ago the club posted a slim operating profit of £252,000 but it’s a sorrier sight now with cash being haemorrhaged.

The figures do show record core revenue is up by £5m to £88.3m. But total operating expenses – or costs – remain high at £110m. Staff costs account for £61m, down by £3m on last year. The outlay of their short term Hampden tenancy was also listed with Rangers writing the Scottish Football Association a cheque for £67,000.

The Ibrox club counted the cost of Michael Beale's summer spending spree last season as well as paying off the Englishman who was replaced by Philippe Clement. The club missed out on the Champions League last season, losing to PSV Eindhoven in the qualifiers but reached the last-16 of the Europa League where they lost to Benfica.

The Light Blues lifted the League Cup but blew two more trophy chances as they surrendered their advantage over Celtic in the Scottish Premiership run-in and lost the Scottish Cup final to their fierce rivals.


Crucially, the club say they are "free of any litigation claims for first time in over a decade following settlements" and interim chairman John Gilligan said: “Undoubtedly, it has been a challenging period for the football club with significant change occurring both on and off the park throughout both season 2023/24 and over the summer months.

"As part of these changes John Bennett stepped away from his role as Chairman in order to focus on his health. John remains a supportive shareholder and investor in the club and I’d like to place on record my thanks for his leadership both as Chairman and a Director over the past nine years. We look forward to welcoming you back to Ibrox.


“In addition, we have had a number of changes in senior leadership positions with the CEO, James Bisgrove, departing to join Al-Qadsiah in the Saudi Premier League and Creag Robertson recently departing as our Director of Football Operations. We wish both James and Creag all the best in their future careers and thank them for their efforts with the football club.

“Whilst we continue our search for the outstanding candidate for the CEO position, we retain a strong executive team within the football club led by our Chief Financial Officer, James Taylor, Chief Commercial Officer, Karim Virani and our Director of Football Recruitment, Nils Koppen. All three were recruited in the period under review, and, as you can see from our underlying performance, there have been significant steps made in a short period of time in delivering against our strategic objectives.


“The challenges encountered with the redevelopment of the Copland Road stand have been well documented, and as a Board we once again apologise to our supporters for the inconvenience caused by the delays in returning to our home. The support received at Hampden was outstanding and epitomises the link that our great club has with our supporters. I’d also like to once again place on record my thanks to the SFA, SPFL and UEFA for their understanding and support through this period.


“With the Copland Road stand now complete, we are extremely proud of the work undertaken to upgrade and improve the facilities for our disabled supporters. They truly are now some of the best facilities in Europe and are evidence of the Board’s commitment to continue to modernise and improve Ibrox and the wider campus.”

£17 million quid!

When does rangers tax year end?


They’ve included the fee for using hampden, which was less than 2 months ago, normally you’d expect that to be in this year’s accounts wouldn’t you?

[HoboHarry]

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Over on FollowFollow plenty of them are delighted at this great set of accounts. “Just need to sell one player like Butland for £17m and it’s all good”.

I'd bet a dollar to a doughnut that he has a release clause and it'll be a lot less than 17 million lol.

[Billy Whizz]

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When does rangers tax year end?


They’ve included the fee for using hampden, which was less than 2 months ago, normally you’d expect that to be in this year’s accounts wouldn’t you?

Think it’s the 30th June? Maybe had to make a payment in June, but you’d think a bigger hit will be in this years accounts

[McD]

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Think it’s the 30th June? Maybe had to make a payment in June, but you’d think a bigger hit will be in this years accounts

Yeah good shout, maybe an advance payment

[Winston Ingram]

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I'd bet a dollar to a doughnut that he has a release clause and it'll be a lot less than 17 million lol.

He’s no worth that and I can’t see any Premier League club coming in for him never mind pay that money.

[Billy Whizz]

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Yeah good shout, maybe an advance payment

They helped pay for the newly laid turf at Hampden, to grow quicker
Maybe it was for that

[Fratelli]

A £17.2m loss despite:

- record core revenue
- record total income
- record commercial revenue.

Horrific set of figures…pleasing!

[Real Emerald]

It also highlights the different world Scottish football is in. I’m sure on one of the football programmes I watched on Saturday they mentioned Brighton had spent £200m on players last year. Its just mental TBH.

[JohnM1875]

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It also highlights the different world Scottish football is in. I’m sure on one of the football programmes I watched on Saturday they mentioned Brighton had spent £200m on players last year. Its just mental TBH.

Most of Europe are in a different world compared to the English Premier League when it comes to spending.

[hibsforeurope]

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A £17.2m loss despite:

- record core revenue
- record total income
- record commercial revenue.

Horrific set of figures…pleasing!

It's a(nother) pleasing loss for the Huns but caveats listed sit fairly close to home too.

[where'stheslope]

Getting to the stage when they won't be able to sack the manager as they would have to pay him off and take on another££££££££!!!!!

[gbhibby]

https://images.app.goo.gl/bmXMYYt8n7QSfdbu6
They are loosing over £1m per month. Wonder if the Easdale brothers will be back on the scene soon.

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[Coco Bryce]

As funny as it is. We are not really in a that fit a state to laugh at another teams accounts.

We're also burning money.

Kensell said the next set will be better but who would believe a word that leaves his mouth.

[Donegal Hibby]

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https://x.com/BabaGol_/status/1849287868440625520

Drink driving Morelos has hit a motorcyclist and left them in a critical condition. One of the worst human-beings to have ever graced Scottish football.

Rumours now that his lawyers are trying to get him off with drink driving as they are not happy about the test …

He’s also came out on twitter apparently stating he was involved in an unfortunate accident while on his way to training.

[McD]

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Getting to the stage when they won't be able to sack the manager as they would have to pay him off and take on another££££££££!!!!!

Apparently still paying Beale AND von bronkhorst

[CyberSauzee]

Just put the accounts into chat gpt, here's the summary:

While the club has shown positive revenue growth and continues to attract financing, its substantial losses, high operating costs, and increased reliance on debt are concerning. The decline in profitability from player registrations and the growing negative balance in retained earnings further suggest a need for strategic realignment, possibly by controlling costs or revisiting the club’s player investment strategy. To ensure long-term financial stability, the club may need to adopt stricter cost controls, enhance operational efficiency, and reconsider its financing approach to avoid future liquidity issues.

[CyberSauzee]

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I see they have changed from the ‘most’ successful to ‘one of’ in anticipation of Celtic pulling ahead of them this season.


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Amazing how you can be that successful when the accounts say you've only been going since 2012. Top of page 29

sevco2024accs.jpg

[Bostonhibby]

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Amazing how you can be that successful when the accounts say you've only been going since 2012. Top of page 29

sevco2024accs.jpg

Most successful 12 year old club that used to be called Sevco but is now called the Rangers International, in the world?

I don't think there's another one in the world with that name history, or the reasons for it.

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[Moulin Yarns]

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Most successful 12 year old club that used to be called Sevco but is now called the Rangers International, in the world?

I don't think there's another one in the world with that name history, or the reasons for it.

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That's as a result of tens of thousands of people who suddenly didn't have a team to support finding solace in a new team being formed with very similar names, colours, 'history', stadium and, most crucially, bigotry, to attach themselves to.

[Bostonhibby]

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That's as a result of tens of thousands of people who suddenly didn't have a team to support finding solace in a new team being formed with very similar names, colours, 'history', stadium and, most crucially, bigotry, to attach themselves to.

Yep, if there wasn't some reincarnation of the now defunct Glasgow rangers for them to spew their nonsense about they'd probably have to extend the marching season to give them something to do!

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[JimBHibees]

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Rumours now that his lawyers are trying to get him off with drink driving as they are not happy about the test …

He’s also came out on twitter apparently stating he was involved in an unfortunate accident while on his way to training.

Amazing what money can do

[Scottie]

Kris Boyd having a meltdown on Sky sports after the game tonight at Aberdeen. Chris Sutton loving it. Comedy gold